Jamaica, an interesting Jamaica, an interesting investing opportunity?investing opportunity?

Jamaica 1494-2006

ContentContent

• Geography

• History

• Politics

• Economic Condition

• Demographics

GeographyGeography

• Location:Caribbean, island in the Caribbean Sea, south of Cuba

• Climate:tropical; hot, humid; 27°C

• Terrain:mostly mountains, with narrow, discontinuous coastal plain

• Lowest point: Caribbean Sea 0 m Highest point: Blue Mountain Peak 2,256 m

• Natural hazards: hurricanes (especially July to November)

HistoryHistory

I. Pre-Colombian Jamaica

- Arawaks

II. The Spanish Occupation, 1494-1655

III. The Slave Economy, 1655-1838

- British occupation

IV. The Development of the Peasantry. 1838-1938

-Coffee, bananas

V. The National Movement and Decolonization, 1938-1962

VI. Political Independence, 1962-1972

• Christopher Columbus visited the island in 1494 and this began Spain rule.

• It became a Spanish colony in 1509 • British captured the island in 1655 • Jamaica gained full independence within the

British Commonwealth in 1962.• Jamaica is the largest English speaking

Caribbean island. It is the third largest island in the West Indies. It is 90 miles south of Cuba.

PoliticsPolitics• Parliamentary Representative Democracy

– Executive branch of government– Popular sovereignty

• 1962 Constitution established a parliamentary system (UK) with Senate and House of Representatives

• Queen Elizabeth II: Chief of State, elects a Governor General (ceremonial role), on the advise of the Prime Minister as her representative in Jamaica

• Independent and Commonwealth Realm (August 6, 1962)• Constitutional safeguards include freedom of speech, press, worshi

p, movement, and association

PoliticsPolitics• Stable, however economical problems have exacerbated

social problems• Jamaica Labour Party (JLP) and the People’s National Party

(PNP)• The National Democratic Movement (NDM), was created in O

ctober 1995

• 1993 victory of Percival James Patterson (after Michael Manely stepped down in 1992 for health reasons), was the first time Jamaican political party won 3 consecutive general elections since the introduction of universal suffrage to Jamaica in 1944.

• In March, 2006, Portia Simpson-Miller was appointed Jamaica's seventh Prime Minister. She is the first woman in the country's history to hold the position of Prime Minister of Jamaica.

Economic conditionEconomic condition

Quick Facts:• GDP per capita: $4100• Population below poverty line: 19.7%• Unemployment Rate: 15%• Exchange Rate: US$1= J$62.5

Major economic activities:• Tourism– English speaking and good weather• Mining– Bauxite and Aluminum• Agriculture– Food and banana• Music and Film– Bob Marley,

Shaggy, Sean Paul

Economic conditionsEconomic conditionsEconomic history of Jamaica

1655 Slave Economy

1820-1824 World’s leading sugar exporting nation

1830-1838 Slavery was formally abolished

1962-1972 Strong economic growth-- Independent

1972-1980 Setback-25% decrease in GDP

1980-1985 Closure of 1st and 3rd largest Aluminum

producers

1980-1990 Rose in Tourism and garment sectors

1991 Economic liberalization and stabilization

Reduced inflation from 80.2% to 7.2%

• Official Name: Jamaica• Capital City: Kingston • Population: 2,605,800 • Climate: Tropical. Hot, Humid• Language: The official language is English but Patois, a dialect, is widely spoken

across the island

• Ethnic Groups: Black (90.9%), mixed (7.3%), East Indian (1.3%), white (0.2%), Chinese (0.2%)

• Religion: The majority of Jamaicans are Christian. But also exist churches like Methodist, Catholic, Seventh-day Adventist, Anglican, to Mormon and Rastafarian

• Jamaica is known primarily for its Rastafarian religion, which has several unique practices. They believe that Haile Salassie, the former leader of Ethiopia, is their leader. They believe in the spiritual use of Ganja.

• Flag: The Jamaican flag has 3 colors, green, black and gold.

DemographicsDemographics

SourceSource

• Wikipedia The Free Encyclopedia, Politics of Jamaica, 2006 http://en.wikipedia.org/wiki/Politics_of_Jamaica , World Wide Web

• www.investjamaica.com